In this month’s newsletter, we look into the recovery of Western Europe and provide comments in relation to Australia-China’s FTA.
Per capita annual disposable income in the major Western European countries (France, Germany, Italy, Spain, UK) is set to rise in 2014. On an annual basis, this will be the first rise since the global financial crisis of 2008-2009. This will have positive impacts on consumer confidence and expenditure in these countries. Clothing expenditure is set for a slow recovery in 2014 and beyond.